East Asia Institute of Management 东亚管理学院 (EASB)

The Fee Protection Scheme(FPS) serves to protect the students' fees in the event a Private Education Institution (PEI) is unable to continue operations due to insolvency, and/or regulatory closure. Furthermore, the FPS protects the student if the PEI fails to pay penalties or return fees to the student arising from judgments made against it by the Singapore courts.

There are two schemes that a PEI can choose from - the Fee Protection Under the Escrow Scheme or the Fee Protection Under the Insurance Scheme.

In the case of Fee Protection Under the Escrow Scheme, tuition fees paid by the students to the school will have to be left in the custody of a third party, in this case, the CPE-endorsed banks, DBS and HSBC Bank. When specified conditions for its release have been met, the banks will disburse the tuition fees on a regular basis to the school.

In the case of Fee Protection Under the Insurance Scheme, insurance will be purchased from HSBC Insurance (Singapore) Pte. Ltd to protect the tuition fee portion for their students.

For students who are covered under FPS in the form of Escrow account, they must pay their fees (in Singapore currency) into the Escrow account through the following methods:

1) SGD crossed cheque
2) Cashier's order
3) Bank draft
4) Telegraphic transfer
5) DBS/POSB ATM (only applicable to DBS Escrow account)
6) DBS Internet Banking (only applicable to DBS Escrow account)

For students who are covered under FPS in the form of Insurance facility, they may pay their fees (in S$) through the following methods:

1) Cash
2) Cashcard
3) Cashier's order
4) Cheque
5) China Union Pay
6) Bank Draft
7) NETS
8) Telegraphic Transfer
9) Credit cards (Visa & Mastercard)

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For more information on the Fee Protection Scheme.
Please visit www.cpe.gov.sg.